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Star, EnCore eye $2.4B UK gas storage


Published Nov 23, 2007
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EnCore commences drilling operations on UKCS block 48/22b North-Spotlight

Two offshore platforms for gas compression, a 200 kilometre pipeline and a terminal at Bacton are the backbone of a newly feasible plan to make the UK-sector Esmon and Gordon fields into the Britain’s biggest gas storage site.

A study has confirmed the EnCore Oil and Star Energy Group plan was doable and good for 145 billion cubic feet of gas storage.

With the new good news, Star upped its stake in the project to 50 percent.

A concept study by AMEC said the project would cost £1.15 billion ($2.37 billion), including compression and processing at Bacton.

Drilling an appraisal well at Esmond in early 2008 is the next step in the plan the two parties have committed to. Star Energy picks up the cost.

Tags: EnCore Oil plc, Star Energy Group




   

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